The attraction of large foreign direct investment (FDI) inflows from the US and Europe, especially into industries with high added value such as manufacturing, technology and pharmaceuticals, is a positive signal about Vietnam’s economic development and international cooperation as well as the country's efforts in improving its position on the global value chain, according to Savills Vietnam experts.
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Vietnam is set to sign rice export agreements with Indonesia and the Philippines, said Prime Minister Pham Minh Chinh.
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More efforts are needed to lower logistics costs, which are still kept at a high level, to increase the economy’s competitiveness, according to insiders.
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Currently, lobster consumption is mainly exported to the Chinese market through unofficial channels which requires Vietnamese businesses to look for official export channels.
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Vietnam’s economy has made good recovery since the beginning of this year; however, inflation risks could weight on the country’s growth outlook, according to experts.
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The image of Vietnamese brands, which is relatively modest in the CPTPP market, needs to be improved in a bid to tap the tremendous potential of this market, experts have advised.
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Vietnam is making strong progress in advancing its standing in the global semiconductor supply chain as many of the world’s largest chip manufacturers have landed in the Southeast Asian nation, insiders said.
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Vietnam has enjoyed an increase in exports via e-commerce in recent years, with many micro-, small- and medium-sized enterprises (MSMEs) are in a prime position to reap significant benefits from the rapid growth of the e-commerce sector.
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The European Chamber of Commerce Vietnam (EuroCham) announced on October 9 its Business Confidence Index (BCI) for the third quarter of 2023, showing that the BCI has regained its upward trajectory in the period, which offers a glimmer of hope for the Vietnamese business environment after a turbulent year.
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A business forum on expanding trade cooperation between Indonesia and Vietnam, introducing the 38th Trade Exhibition Indonesia (TEI) 2023, and learning about the Halal market was held in Ho Chi Minh City on October 5.
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